Refined soya oil futures rise 0.31% as demand picks up

Refined soya oil prices gained 0.31 per cent to Rs 578.80 per 10 kg in futures trade today as speculators created fresh positions amid pick-up in domestic demand and restricted supplies from producing belts.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in April moved up by Rs 1.80, or 0.31 per cent, to Rs 578.80 per 10 kg with an open interest of 71,525 lots.
Similarly, the oil for delivery in June rose by Rs 1.45, or 0.26 per cent, to Rs 555 per 10 kg in 1,20,980 lots.
Market analysts said besides pick-up in demand in spot market, restricted supplies from producing belts led to the rise in refined soya oil prices at futures trade.